The Second Bank of the United States was chartered in 1816, five years after the First Bank of the United States lost its own charter. The Second Bank of the United States was initially headquartered in Carpenters' Hall, Philadelphia, the same as the First Bank, and had branches throughout the nation.

The Second Bank was chartered by many of the same congressmen who in 1811 had refused to renew the charter of the original Bank of the United States. The predominant reason that the Second Bank of the United States was chartered was that in the War of 1812, the U.S. experienced severe inflation and had difficulty in financing military operations. Subsequently, the credit and borrowing status of the United States were at their lowest levels since its founding.^{[citation needed]}

Like the First Bank, the Second Bank was also chartered for 20 years, and also failed to have its charter renewed. It existed for 5 more years as an ordinary bank before going bankrupt in 1841.

The Second Bank of the United States was patterned after the First Bank of the United States.^{[citation needed]} The legality of the bank was upheld in the U.S. Supreme Court case McCulloch v. Maryland 17 U.S. 316 (1819) that also declared null and void any state law contrary to a federal law made in pursuance of the Constitution. The bank's last president was Nicholas Biddle (1786–1845).

Bank of the United States may refer to:

The United States of America (commonly abbreviated to the United States, the U.S., the USA, America, and the States) is a federal constitutional republic comprising fifty states and a federal district. The country is situated mostly in central North America, where its forty-eight contiguous states and Washington, D.C., the capital district, lie between the Pacific and Atlantic Oceans, bordered by Canada to the north and Mexico to the south. The state of Alaska is in the northwest of the continent, with Canada to the east and Russia to the west, across the Bering Strait. The state of Hawaii is an archipelago in the mid-Pacific. The country also possesses several territories in the Pacific and Caribbean.

At 3.79 million square miles (9.83 million km²) and with over 312 million people, the United States is the third or fourth largest country by total area, and the third largest by both land area and population. It is one of the world's most ethnically diverse and multicultural nations, the product of large-scale immigration from many countries. The U.S. economy is the world's largest national economy, with an estimated 2011 GDP of $15.1 trillion (22% of nominal global GDP and over 19% of global GDP at purchasing-power parity). Per capita income is the world's sixth-highest.

Andrew Jackson (March 15, 1767 – June 8, 1845) was the seventh President of the United States (1829–1837). Based in frontier Tennessee, Jackson was a politician and army general who defeated the Creek Indians at the Battle of Horseshoe Bend (1814), and the British at the Battle of New Orleans (1815). A polarizing figure who dominated the Second Party System in the 1820s and 1830s, as president he destroyed the national bank and relocated most Indian tribes from the Southeast to west of the Mississippi River. His enthusiastic followers created the modern Democratic Party. The 1830–1850 period later became known as the era of Jacksonian democracy.

Jackson was nicknamed "Old Hickory" because of his toughness and aggressive personality; he fought in duels, some fatal to his opponents. He was a rich slaveholder, who appealed to the common men of the United States, and fought politically against what he denounced as a closed, undemocratic aristocracy. He expanded the spoils system during his presidency to strengthen his political base.

Murray Newton Rothbard (March 2, 1926 – January 7, 1995) was an American economist, historian, and political theorist. He was a prominent exponent of the Austrian School of economics who helped to define libertarianism by theorising a form of free-market anarchism which he termed "anarcho-capitalism." Rothbard wrote over twenty books and is considered a centrally important figure in the American libertarian movement.

Building on the Austrian School's concept of spontaneous order, support for a free market in money production and condemnation of central planning, Rothbard advocated abolition of coercive government control of society and the economy. He considered the monopoly force of government the greatest danger to liberty and the long-term well-being of the populace, labeling the state as nothing but a "gang of thieves writ large"—the locus of the most immoral, grasping and unscrupulous individuals in any society.

Rothbard concluded that all services provided by monopoly governments could be provided more efficiently by the private sector. He viewed many regulations and laws ostensibly promulgated for the "public interest" as self-interested power grabs by scheming government bureaucrats engaging in dangerously unfettered self-aggrandizement, as they were not subject to market disciplines. Rothbard held that there were inefficiencies involved with government services and asserted that market disciplines would eliminate them, if the services could be provided by competition in the private sector.